New Issue: Morgan Stanley sells $1.45 million digital index-linked notes on S&P 500

By Kiku Steinfeld

Chicago, Nov. 9 – Morgan Stanley Finance LLC priced $1.45 million of 0% digital notes due Feb. 24, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the final index level is greater than or equal to 85% of the initial level, the payout at maturity will be $1,161per $1,000 of notes.

Otherwise, investors will lose 1.1765% for every 1% that the index declines beyond 15%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Digital notes
Underlying index:	S&P 500
Amount:	$1,447,000
Maturity:	Feb. 24, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If the final index level is greater than or equal to buffer level, $1,161 per $1,000 of notes; 1.1765% loss for every 1% that the index declines beyond buffer
Initial index level:	3,310.11
Buffer level:	2,813.5935, 85% of initial level
Pricing date:	Oct. 29
Settlement date:	Nov. 5
Agent:	Morgan Stanley & Co. LLC
Fees:	None
Cusip:	61771EES3

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